Are you looking for a low cost API for real-time crude oil rates? If the answer is yes, you are in luck! Keep reading to find out which API you should use!
With regard to specific commodities, we can make a variety of things from crude oil; including lubricants, asphalt, ethane, propane, and butane; as well as many more things that are employed for their chemical or energy content. This explains why there is always a demand for this kind of commodity and why its price keeps rising.
However, market participants regularly miss out on taking advantage of changes in crude oil prices; either because they are unfamiliar with the unique features of these markets or because they are unaware of the hidden risks that could reduce profits.
What’s more, crude oil fluctuates according to supply and demand theories; which are influenced by both world production and economic growth. Markets for crude oil are sold by traders when there is an excess supply and diminishing demand; whereas crude oil prices are raised when there is a decrease in demand and an increase in output.
So, if you’re considering trading or investing in this kind of commodity, the best you can do is to keep up with the current spot prices for crude oil. Fortunately, using an API for commodities prices data makes this task simple to complete!
Which Is The Best Low Cost API For Commodities Prices?
Since an API )application programming interface) retrieves accurate data from reputable sources in JSON format; integrating it into any system to display the data immediately is simple. So, when it comes to a commodities prices API; this tool quickly and accurately delivers you trustworthy data from various financial trusted sources.
In order to properly assess the commodities market, the first step is to choose a reputable API provider that gives users access to reliable data from fianncial sources. In this situation, we suggest that you use Commodities-API, a reliable web resource with more than 6 years of market expertise. This API makes it simple to obtain accurate commodities data for a reasonable price. Additionally, all spot data is provided in real time with a frequency of up to 60 seconds and accuracy to two decimal points.
How To Obtain Real-Time Crude Oil Rates With This API
- Create a Commodities-API account. At this step, you can choose the plan you want to use. The three plans that are now offered for this API are amateur (no-cost), basic, and professional. Choose the one that best satisfies your requirements after weighing their differences. As an illustration, if you choose the first plan, you will get hourly commodity updates without spending a cent!
- You will receive an API key after registration, which you must use each time you make an API call. However, you must authenticate it by supplying your bearing token in the authorization header before you can use it.
- Finally, simply select the currency in which you want to view your pricing, followed by the commodity symbol you desire, to receive commodity spot prices (in this case, it can be Crude Oil WTI, or Crude Oil Brent). The make the API call and wait for the results.
Visit https://www.commodities-api.com/ to learn more about how to incorporate Commodities-API into your own website. You can read the frequently asked questions and find the API’s documentation there to quickly learn how it operates.